Wed, 23th of April, 2008
By Setyo Wibowo (analyst@fxinstructor.com)

EURUSD Outlook
The Euro made another all time high against Dollar yesterday, topped at 1.6019. The chase for 1.6250 area is now begins. My model is long, but CCI on the daily chart already in overbought area so watch out for downside correction move. Immediate support at 1.5950 followed by 1.5880. Initial resistance at 1.6080.

EURUSD Daily Supports and Resistances:

• S1= 1.5881
• S2= 1.5765
• S3= 1.5696
• R1= 1.6066
• R2= 1.6135
• R3= 1.6251

GBPUSD Outlook
Yesterday, GBPUSD recovered from correctional downside move on Monday. The pair moved in “perfect” trend line (see Chart #1). My model is long. CCI is about to cross 100 line up. Immediate support at 1.9915 followed by 1.9860. Initial resistance seen at 2.0050.

Chart #1

GBPUSD Daily Supports and Resistances:

• S1= 1.9805
• S2= 1.9649
• S3= 1.9553
• R1= 2.0057
• R2= 2.0153
• R3= 2.0309